Ukrainian bonds - When the state looks not as good as private borrowers

Ukrainian bonds - When the state looks not as good as private borrowers



3 квітня 2015 года
Конкорд Капитал

The Ukrainian government has initiated tough restructuring talks with its creditors, aiming at a combination of extended maturity of state bonds, haircut and coupon decrease. While at this stage we cannot estimate the viability of such targets, it seems like the restructuring could look very distressed, from the bondholders’ standpoint.



Our view is that private issuers, the majority of whom will also likely initiate restructuring talks (if not having completed them already), are not likely to offer as distressed conditions as the state is going to

Источник: Конкорд Капитал

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